President Obama Optimistic TPP Can Be Approved This Year

February 25, 2016 12:30 PM
 
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The Trans-Pacific Partnership (TPP) is a multinational trade deal that has been getting lots of attention lately. As farm groups try to lobby its passage, members of Congress continue to say they won’t sign the deal under President Obama’s administration. Still, early this week Obama said that he’s “cautiously optimistic congress will support the TPP this year."

The 12 countries involved in the deal have already approved and signed the agreement. The U.S. International Trade Commission recently announced it will be sending Congress a formal letter asking for approval of the agreement soon.

Watch the full story from “AgDay” below:

A study conducted by the American Farm Bureau Federation found that passage of TPP could benefit the U.S. by $4.4 billion annually. Several commodities stand to benefit from trade deal, according to their study. Corn could expect to see a price increase of $0.05 per hundredweight, soybeans a $0.12 increase and milk a $0.21 increase.

Farm groups have been aggressively lobbying in favor of the agreement for months.

“If we aren’t willing to pass the TPP, we will watch our markets erode while other countries strike bilateral deals,” says Chris Novak, CEO of the National Corn Growers Association. Novak says without the deal farmers will “essentially watch our [international] markets be washed away”.

Are you in favor of the TPP? Do you think Congress will pass it later this year, or will it be up to the next President to decide?

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Comments

 
Spell Check

Wolfman
Ottawa Lake, MI
3/3/2016 02:06 AM
 

  The TPP is not about trade. The biggest concern is the loss of sovereignty of American. No so called trade agreement should usurp our rights as Americans.

 
 
Sustainable Agriculture
North Palm Beach, FL
2/26/2016 01:31 AM
 

  The massive so-called "free-trade" agreement, the Trans-Pacific Partnership (TPP) was negotiated in secret. The recent release of TPP text proves, the agreement will greatly empower corporations by virtually eliminating consumer, health, safety, labor, privacy, and environmental regulations, enforcing corporate domination over our justice system through offshore corporate investor-state tribunals or ISDS. Despite massive popular opposition to the TPP (despite media silence) on the part of citizens of all party nations, the TPP will now come up for a vote in Congress within months under the anti-democratic Fast Track procedure. We are in the fight of our lives to urge Congress to oppose the TPP when it comes up for a vote.

 
 

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